Seshachal Technologies approves preferential issue and ₹10 crore investment
- Shareholders approved preferential equity issue with 491 votes in favor
- Investment of up to ₹10 crore in Triveni Jewellers passed with 2,35,705 votes
- Promoter's 2,35,214 shares excluded from preferential issue vote due to interest
- Both special resolutions secured 100% support from participating shareholders
*this image is generated using AI for illustrative purposes only.
Seshachal Technologies Limited shareholders approved a preferential issue of equity shares and an investment of up to ₹10 crore in Triveni Jewellers and Bullion Private Limited during the Extra Ordinary General Meeting (EGM) held on October 19, 2026.
Both special resolutions were passed with the requisite majority, securing 100% of the valid votes cast in favor. The meeting addressed capital structuring and strategic investment mandates under the Companies Act, 2013.
Voting results for preferential issue
The first resolution sought approval for the issue and allotment of equity shares on a preferential basis. A total of 20 members participated in the voting process, casting votes for 491 shares. All votes were recorded in favor of the resolution, with zero votes against.
Notably, the promoter holding 2,35,214 equity shares was classified as an interested party in this specific resolution. Consequently, these shares were excluded from the count to ensure unbiased voting results, leaving only non-promoter votes in the tally.
Investment approval under Section 186
The second resolution authorized investments under Section 186 of the Companies Act, 2013, specifically targeting Triveni Jewellers and Bullion Private Limited. This item saw significantly higher participation, with 22 members voting across 2,35,705 shares.
Similar to the first resolution, all 2,35,705 votes were cast in favor, resulting in a 100% approval rate. The high volume of shares voted for this item compared to the preferential issue suggests broader shareholder engagement or interest in the investment mandate versus the dilutive equity action.
Scrutinizer report details
The voting was conducted via remote e-voting and electronic voting during the EGM through Video Conferencing/Other Audio Visual Means (VC/OAVM). CS Himanshu Togadiya, Proprietor of H Togadiya & Associates, served as the scrutinizer. The remote e-voting period commenced on October 16, 2026, at 9:00 am and concluded on October 18, 2026, at 5:00 pm.
The cut-off date for determining eligible shareholders was October 12, 2026. The scrutinizer verified the data against records from Central Depository Services (India) Limited (CDSL) and confirmed compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
How will the ₹10 crore investment in Triveni Jewellers and Bullion Private Limited impact Seshachal Technologies' future revenue diversification and profitability?
What are the specific terms, pricing, and timeline for the preferential issue of equity shares approved by shareholders?
How does the shift toward bullion and jewelry investments align with Seshachal Technologies' core technology business strategy?
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